Attainable Housing Incentive to accelerate downtown residential development |
March 18, 2026
The City of Edmonton is taking an important step to increase housing in the downtown core through a $30-million Attainable Housing Incentive. This incentive accelerates the development of attainable housing while encouraging new public infrastructure and economic opportunities in the city’s downtown area.
“The best path forward for downtown continues to be increasing our residential base, adding vibrancy to the area that extends beyond the traditional workday,” said Mayor Andrew Knack. “Together with our development partners, we’re investing in downtown by collaborating on solutions that are business friendly while meeting the growing demands of this vibrant neighbourhood.”
Since 2018, the cost of constructing a high-rise residential building in Edmonton has increased by 44 per cent, while the average apartment rent in the downtown area has only increased by 25 per cent. The Attainable Housing Incentive will function as a tax rebate over a 10-year period based on the number of attainable units built. Applications for this program open later this month.
“Residential growth in our downtown will have a powerful ripple effect that transforms the core into a true 'people-first' hub, naturally drawing in lush parks, thriving local businesses and seamless transit connections,” said Kim Petrin, Deputy City Manager of Urban Planning and Economy. “The City expects to add up to 850 attainable units and up to 3,400 total units through the Attainable Housing Incentive, which will help us meet our downtown population target of 24,000 by 2030.”
The Attainable Housing Incentive uses funds from the Capital City Downtown Community Revitalization Levy, which has invested in transformational revitalization projects that increase local interest and development. Since 2015, the City’s investments have attracted over $5 billion in new private development, including 3,500 residential units and three new office towers. |
For more information:
Media contact:
Courtney Drever
Communications Advisor
Urban Planning and Economy
780-288-5922
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